JULY 2026 MARKET MINUTE
Commercial real estate in the Savannah MSA marked an annual high in July 2026, registering $376.04M in total sales volume. As is typical, the industrial and hospitality sectors drove most of the action, but there were some interesting moves in the education and health care sectors.
Topping sales for July at $158M, the 351-room Hyatt Regency Savannah was acquired by Certares Real Estate Management and Clearview Hotel Capital from Ashford Hospitality Trust. The partnership plans to capitalize on the property’s prime location on the Savannah River with guest-facing improvements to elevate the hotel’s competitive positioning. The timing aligns with the City of Savannah’s recent passing of the River Street redevelopment plan, which aims to enhance the vibrancy, safety, and vitality of the tourist hot spot.
Industrial assets continued to perform, accounting for over 40% of regional sales volume. Of note, Growth Capital Partners and Highline Real Estate bought a nearly 1 million sq. ft. facility at Georgia International Commerce Centre from SJP Properties for $89.5M.
In a rare east side industrial sale, Kenickell sold its warehouse at 2604 Causton Bluff Rd to Georgia Power for $7.35M. The site spans nearly 9 acres, with frontage on President Street, and includes approximately 68,000 sq. ft. of office and warehouse space. Georgia Power says it acquired the site for its own operational use.
While health care property transactions tend to be rare in our region, two large deals closed last month. First, Select Specialty Hospital - Savannah, at 800 E 60th Street, changed hands for $16.79M as part of a merger between Blue Owl Capital and Sila Realty Trust. Second, Azalealand Nursing Home, a long-time independent facility with 107 beds, sold for $14.15M to Journey Healthcare.
July also saw two education-related sales, just in time for the start of the new school year. Tybee Island Maritime Academy (TIMA) finalized its purchase of the former Thunderbolt Elementary School building (3301 Louis St) from the Savannah Chatham County Public School System. The deal gives TIMA five years to activate the property, with the option to sell back to the school system at the end of the term. The purchase was a strategic move as its current lease ends in 2028 and a potential new site on Tybee is still up in the air.
SCAD also made headlines last month by purchasing the industrial site next to its film studio complex for $9.75M–a price many saw as overpaying. The site at 2337 Louisville Rd includes 4.92 acres of land and a 4,286 sq. ft. building. With those figures, the purchase price breaks down to $2,274.85/sq. ft. or $1.98M/acre, both well above market averages. The purchase is the latest in a series of several high-priced acquisitions for the university this year, including two properties at Bull and Henry totaling $5.45M. In an increasingly competitive market, SCAD has proven it will pay a premium for proximity to its existing assets.
As a final note, July’s near record- breaking regional sales volume did not include the transfer of four self-storage properties from National Storage Affiliates (NSA) Trust to Public Storage. Public Storage acquired 671 properties nationwide as part of its $10.5B acquisition of NSA last month. The Savannah-area properties in the portfolio include Berwick Self Storage, 80 West Mini Storage, SecurCare Self Storage on Abercorn, and SecurCare Self Storage on Eisenhower.